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Press release from PR Newswire

Altisource Announces Launch of Hubzu?

Monday, September 17, 2012

Altisource Announces Launch of Hubzu?08:00 EDT Monday, September 17, 2012A New Residential Real Estate Marketplace for Online Home Buying and Selling.LUXEMBOURG, Sept. 17, 2012 /PRNewswire/ -- Altisource? (Nasdaq: ASPS) announced the launch of Hubzu?, an online residential real estate marketplace. Hubzu improves the online home buying and selling experience by making it easier, more efficient and transparent from start to finish. Hubzu puts the entire experience online ? from searching and bidding to financing and closing. Effective today, Hubzu replaces GoHoming, Altisource's current online marketplace for real estate.  Hubzu is live at Hubzu.com and includes all real estate inventory that was previously on GoHoming.com, along with an enhanced user experience and expanded functionality.  The launch capitalizes on Altisource's position as a global leader in high-value, technology-enabled residential real estate solutions.(Logo: http://photos.prnewswire.com/prnh/20120917/PH75166LOGO-a )(Logo: http://photos.prnewswire.com/prnh/20120917/PH75166LOGO-b )"We've had a lot of success with GoHoming, facilitating nearly 60,000 home sales to date," commented Scott Wielar, General Manager of Hubzu. "However, to stay at the forefront of the market, our brand experience and scope of services needed to evolve. We listened to our customers and redesigned the user experience to make the entire real estate transaction process easier for home buyers and sellers. With the new features and functionality, we are further extending our efficiency and transparency in facilitating the home buying and selling process," continued Wielar.Buyers can search for homes, bid to buy homes via auction or the traditional offer process, or use the "Own It Now" feature to edge out competing bidders and win an auction immediately. The website then guides buyers through the contracting and financing process in one centralized online location.  For sellers, Hubzu offers faster, easier sales through increased marketing visibility and the ability to track bids and respond to offers online. In 2012 and early 2013, Hubzu plans to roll out functionality enhancements, new features and additional inventory for sale. About Hubzu:Hubzu is an online residential real estate marketplace that makes it easy for consumers, investors and brokers to buy and sell homes from start to finish. Hubzu puts the entire experience online ? from searching and bidding to financing and closing. Hubzu is a trademark of Altisource Solutions, S.a r.l. Hubzu is part of the Altisource Portfolio Solutions S.A. family of businesses. Additional information is available at www.hubzu.com or follow us on Facebook and Twitter.About Altisource:Altisource Portfolio Solutions S.A. (Nasdaq: ASPS) is a global provider of services focused on high-value, technology-enabled, knowledge-based solutions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management. Additional information is available at www.altisource.com.Investor Contact:Michelle EstermanChief Financial Officer+352 2469 7950Michelle.Esterman@altisource.luPress Contact:Scott MayDirector of Marketing and eCommerce770-612-7316Scott.May@hubzu.com SOURCE Altisource